Supply Chain Analytics Market to Reach USD 41.36 Billion by 2032; Rising Adoption of Big Data & Advanced Analytics Technologies to Propel Growth: The Brainy Insights

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The increasing demand for cloud-based solutions and services will drive the supply chain analytics market growth. North America region emerged as the largest global supply chain analytics market, with a 43.28% market revenue share in 2022.

Newark, Aug. 03, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the supply chain analytics market will grow to USD 7.97 billion in 2022 and reach USD 41.36 billion by 2032. In just ten years, the increasing use of cutting-edge technologies like Big Data analytics, Artificial Intelligence (AI), and Machine Learning (ML) for growing supply chain visibility, decision-making efficiency, and managing and forecasting risks, which are helping to boost the market growth over the forecast period. Moreover, growing industrialization and the increasing need for supply chain optimization and cost-cutting are expected to propel market growth over the forecast period.

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Key Insight of the Supply Chain Analytics Market

North America to account for the largest market size during the forecast period.

North America is expected to have the largest market share in supply chain analytics. Key factors favouring the growth of the chatbot market in North America include the increment in mindfulness among enterprises regarding favourable circumstances of investigation arrangements and the growing awareness of the benefits of analytics solutions among businesses. Moreover, the early adoption of technologies & implementation of progressive solutions by enterprises for better decision-making is also helping to boost market growth.

The professional segment is expected to augment the supply chain analytics market during the forecast period.

The service segment is divided into support & maintenance and professional. The professional segment held the largest market share in 2022 and is expected to continue during the forecast period owing to the growing use of professional services to help clients use the software effectively and maximize their value.

The manufacturing analytics segment is anticipated to dominate the market by 43.16% in 2032.

The solution segment is divided into manufacturing analytics, logistics analytics, visualization & reporting, sales & operations analytics, and planning & procurement. The manufacturing analytics segment is anticipated to dominate the market in the forthcoming years due to the industrial sector’s transformation by Industry 4.0 technologies.

The cloud segment market size was USD 4.47 billion in 2022

The deployment segment is divided into on-premise and cloud. The cloud segment market size was USD 4.47 billion in 2022 due to the increasing OEM clients’ reliance on cloud-based systems. Moreover, the cloud infrastructure gives enterprises greater flexibility and enables large-scale customization of goods and services, helping boost market growth.

The small & medium enterprises segment is anticipated to dominate the market by 68.04% in 2032.

The enterprise size segment is divided into small & medium enterprises and large enterprises. The small & medium enterprises segment is anticipated to dominate the market in the forthcoming years due to the growing penetration of social media has permitted small and medium-sized businesses (SMEs) to engage in supply chain management activities effectively.

Advancement in market

For example, on 1 March 2021, Oracle Company declared the launch of its new AI-powered supply chain management platform. This platform uses progressive analytics and ML to optimize supply chain operations & permit businesses to respond fast to changes in supply & demand.

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Market Dynamics

Driver: The rising penetration of the cloud-based supply chain:

The raised awareness of the advantages of supply chain analytics (SCA) solutions, like waste minimization, supply chain optimization, forecasting accuracy, and meaningful synthesis of firm data, are also helping to boost market growth. Further, the rise in smartphone usage and the growing penetration of high-speed internet connectivity are also helping to stimulate market growth over the forecast period. Also, the cost-effectiveness in supply & chain analytics, the rising adoption of cloud analytics solutions, and the growing implementation of advanced technologies like machine learning and artificial intelligence in supply chain analytics solutions. These factors are helping to boost the market growth over the forecast period.

Restraint: The lack of standards:

The increasing need for data privacy protection is the restraining factor of market growth. Further, consumers must disclose private information to receive value-added services and sometimes lead to data leaks and cyber threats are expected to hinder market growth. Additionally, a lack of in-house IT experience is hampering market growth.

Opportunity: The growing data volume:

The increasing data volumes and the ongoing requirement for a suitable cost-cutting solution are the opportunity factors for market growth. Further, the significant characteristics of the cloud are its ease to use & simple integration, cost-effectiveness, agility, scalability, and planning. These factors are also helping to stimulate market growth. However, the increasing utilization of social media/multimedia and the continuous proliferation of the Internet of Things (IoT) in numerous organizations are expected to drive market growth over the forecast period.

Some of the major players operating in the supply chain analytics market are:

• IBM, Oracle
• Software AG
• SAS Institute Inc.
• Micro Strategy Incorporated
• Qlik
• TABLEU SOFTWARE,LLC.
• Cloudera, Inc.
• TIBCO Software Inc.
• American Software,Inc.
• Birst, Inc.
• Aera Technology
• Accenture
• Genpact
• Capgemini
• JDA Software Inc.
• A.P. Moller – Maersk
• Kinaxis
• Lockheed Martin Corporation

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Key Segments cover in the market:

By Service:

• Support & Maintenance
• Professional

By Solution:

• Manufacturing Analytics
• Logistics Analytics
• Visualization & Reporting
• Sales & Operations Analytics
• Planning & Procurement

By Deployment:

• On-premise
• Cloud

By Enterprise Size:

• Small & Medium Enterprises
• Large Enterprise

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.

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